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Dec 6, 2012
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back to bush years tax cuts. you can get another piece out of that capping deductions, somebody has to come forward and say we have to reduce medicare spending all thee parties are net negative on raising income taxes for everybody. all thee parties net negative on raising the requirement atireme. rediscussi reducing net spending, the democrats are a little better on that. >> you thought it was amazing that 30% of the public have not heard about the fiscal cliff. that didn't raise very high on major issues that are out there. >> the other thing i wanted to ask you about is the apple situation, after that performance yesterday, you talked last week about how you talked about the people that were selling this week. do you think that's really what's happening in this situation? >> i do. whether it's that side which is kind of the negative side, you break the piggy bank, you want to beat capital gameins, you wa to beat the tax man. i think both those sides of the equation may have a lot more horsepower than people th
back to bush years tax cuts. you can get another piece out of that capping deductions, somebody has to come forward and say we have to reduce medicare spending all thee parties are net negative on raising income taxes for everybody. all thee parties net negative on raising the requirement atireme. rediscussi reducing net spending, the democrats are a little better on that. >> you thought it was amazing that 30% of the public have not heard about the fiscal cliff. that didn't raise very...
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Nov 30, 2012
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on real after-tax tax basis, it is a much different story. >> yeah. you get a cap tamm gains and -- should you sell the share? capital gains taxes going up? dividend stocks aren't going to be worth as much. how do you -- is it already reflected? >> well, from a capital gains standpoint yes, you should take your gains. from a dividend perspective -- the fed is already screwing savers by having rates at zero. the government will screw savers more by taking more out of your dividends. unfortunately savers are going to have no choice but to own dividend paying stocks. >> joe is not paying attention. buy lottery tickets and open a moe's franchise. that's what we should do. >> someone tweeted i have moe's tortilla chips. >> up next, up next -- thanks, peter. gop criticizing the president's proposals for taxes and spending increases. dems telling the republicans to bring their ideas to the table. can the two sides get together and get a deal done? we ask ed rendell and judd gregg about that and much more "squawk box" is coming right back after a break. for m
on real after-tax tax basis, it is a much different story. >> yeah. you get a cap tamm gains and -- should you sell the share? capital gains taxes going up? dividend stocks aren't going to be worth as much. how do you -- is it already reflected? >> well, from a capital gains standpoint yes, you should take your gains. from a dividend perspective -- the fed is already screwing savers by having rates at zero. the government will screw savers more by taking more out of your dividends....
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Dec 7, 2012
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be a delayed start to 2013 tax season. in programming its systems, the irs considered the congress would patch the amt. without another patch, the amt could hit as many as 33 million people for the 2012 tax year and it will take them some time to reset all of those forms. >>> and squawk is in session thorn with congressman peter roskam, member of the ways and means committee. thanks for joining us. >> good to be here. >> one of your quotes is that house republicans are prepared to get the yes, but not prepared to get to foolish. and 1.6 you would think is foolish. 800 people think maybe that's doable. could it just look like this, i'll cut to the chase, we go up -- we start at 500,000 and above. we go up 2 percentage points to 37 and do a couple things on deductions that are politically possible to do to get to a trillion dollars. if the president were to come down to a trillion, could we go up -- would republicans go up to a trillion in that. >> i'll give you a straight hans, but inhan answer, but in a minute. let me get
be a delayed start to 2013 tax season. in programming its systems, the irs considered the congress would patch the amt. without another patch, the amt could hit as many as 33 million people for the 2012 tax year and it will take them some time to reset all of those forms. >>> and squawk is in session thorn with congressman peter roskam, member of the ways and means committee. thanks for joining us. >> good to be here. >> one of your quotes is that house republicans are...
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Dec 4, 2012
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from this complicated tax or these high taxes. it works. >> becky, if it was your commission, simpson/bowles -- >> 11 of the 18 members. >> and we got to handle the fiscal cliff but knowing it goes to 28%, wouldn't you be using this opportunity right now to try and bridge a way to get eventually to simpson/bowles? >> the president was behind simpson/bowles from the beginning. >> because of the 28% and the entitlement cuts. if you were on this commission, you would say the fiscal cliff is much more important, let's figure out a way to handle it but with the end in sight of simpson/bowles. we all know we need to get there. instead of this obsession with the top 2% and 39.6, wouldn't you be spending is your leadership capital trying to get to a simpson/bowles. >> that's the most loaded question you could have possibly asked. >> am i wrong? >> no, i agree with that, i agree with simpson/bowles. >> no one's listening at the white house so i can say whatever i want. >> when we've asked republican leaders they've not embraced simpson/bow
from this complicated tax or these high taxes. it works. >> becky, if it was your commission, simpson/bowles -- >> 11 of the 18 members. >> and we got to handle the fiscal cliff but knowing it goes to 28%, wouldn't you be using this opportunity right now to try and bridge a way to get eventually to simpson/bowles? >> the president was behind simpson/bowles from the beginning. >> because of the 28% and the entitlement cuts. if you were on this commission, you would...
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Nov 29, 2012
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so right now everybody's debating about tax rates or tax deductions. that's really a side show. >> i agree. >> the main stage here is really how much goes into each of those three buckets and what are we going to do today and what are we going to do tomorrow and how does that work out so that we get a deal by sometime early next year. >> you're talking fiscal abyss. we've got them all together. mine the fiscal cliff is january 1st. your $4 trillion deal is like a simpson-bowles thing. the fiscal abyss, i don't know if we know whether that's going to be a one- or two-step process. >> it should be a two-step process because you can never deal with $4 trillion in two weeks. >> they can spend $4 trillion in two weeks. >> they can and they have. >> and they do. >> yeah. so i think the -- what they need to do, though, right now is everybody keeps talking about the cliff as like here it comes december 31st. the reality is businesses today are acting as if this is going to happen. so this is not whether the dow goes up and down and that's the symbol of whether
so right now everybody's debating about tax rates or tax deductions. that's really a side show. >> i agree. >> the main stage here is really how much goes into each of those three buckets and what are we going to do today and what are we going to do tomorrow and how does that work out so that we get a deal by sometime early next year. >> you're talking fiscal abyss. we've got them all together. mine the fiscal cliff is january 1st. your $4 trillion deal is like a...
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Dec 5, 2012
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code, tax expenditures. that is spending through the tax code. and it picks a favored and connected groups to get preferential tax treatment over others. >> like homeowners. >> like corporations. >> crony capitalism is just as bad -- >> well, it goes back to andrew jackson's veto of the -- what he talked about was people cutting their own private deals and he's absolutely right. >> and leading arthur brooks, whoever you pick, they make that point. the crony capitalism is just as -- >> it's what democracy does. until it gets so bad. people get so angry, they gain control. shareholders don't really have control of corporations, until they do. and it's the same thing in democracy. >> tell me why i'm wrong about this and i've said it a lot. if you get government to the point where it's 25% of gdp, and you know full well it's bloated and overspending, i don't think you decide how to pay for that. you don't say, okay, i'm going to get the revenue side up. i think you immediately start on the 25. and knowing that b
code, tax expenditures. that is spending through the tax code. and it picks a favored and connected groups to get preferential tax treatment over others. >> like homeowners. >> like corporations. >> crony capitalism is just as bad -- >> well, it goes back to andrew jackson's veto of the -- what he talked about was people cutting their own private deals and he's absolutely right. >> and leading arthur brooks, whoever you pick, they make that point. the crony...
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Dec 3, 2012
12/12
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hikes, one third tax cuts. and i remember saying do you think this will work, they're raising the v.a.t. tax and i understand italian household debt isn't that high, but they were trying to tax their way out of a massive debt problem and in fact receipts went down, consumption fell to 4.25 annualized rate and the situation got much worse. today italy has zero nominal gdp grets. and they're funding at 4.5%. that is a bad business model. spain same story. so when you bnk our package and what's been offered so are far which appears like $1.6 trillion in tax hikes against $400 billion of entitlement cuts over time, that's an even worse mix than the two-thirds/one-third european structure that really has gotten a negative reaction. >> how much is because of the mix and how much of it just this is what austerity looks like? >> is the money in capping deductions or raising marginal tax rates? it's in capping deductions. but that's tough because you have to tell someone no like the housing lobby or charitable contribut
hikes, one third tax cuts. and i remember saying do you think this will work, they're raising the v.a.t. tax and i understand italian household debt isn't that high, but they were trying to tax their way out of a massive debt problem and in fact receipts went down, consumption fell to 4.25 annualized rate and the situation got much worse. today italy has zero nominal gdp grets. and they're funding at 4.5%. that is a bad business model. spain same story. so when you bnk our package and what's...